Silver - Who's buying, who's selling?

Just a quick survey. With silver at $31.500, who's buying, who's selling?

I'm from small town USA where we only have one coin dealer. We also have a bullion dealer, but he does virtually all of his business through Brinks (Precious metals IRA's I suspect). I've chatted with both of these guys recently and they are both advising people to buy because the price HAS to go up. They both say the price is artificially low right now, but I don't know if I can trust them because of course, both of them want to sell me silver.

Basically, I'm interested in your thoughts on the market.

(I know I'm a new guy, but please don't think I'm spamming. I just don't know why it took me this long to seek out a coin forum and I just want to nerd out and talk about things that it seems most of my friends and co-workers could care less about.)

EDIT: TEOTWAWKI = Dec 21, 2012, not Dec 12, 2012.

 

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I voted for the buying side option #2&3. I don't know if you're going to find a dealer that will advise you to not spend and wait for the price to go lower. They are into their inventory for a certain price and if you are standing their with money in your pocket, they are going to want to sell.

I see price going higher in the long term. If it does back-up into the $20s, I think you'll see premiums being raised. My dealer was at spot on generic bullion but last week he went to spot +$2. ASE's stayed at +$3.

 

Just holding. I might buy some this summer.

 

I'm doing both, but not on the scale of investment buying. I'm fortunate to have put away a rift raft collection over the years that has enabled me to refine my holdings with little new money. I would like to start stacking slv but I have too many holes to fill. But since I'm focusing on ASEs, walkers and 2012 world bullion it can be said I'm doing just that. One member had a big Credit Card bonus and I believe he bought a roll of BU ASEs. Other than that, most are hoping silver hits 28 before "backing up the truck."
Since you have a job, just buy a little of what you like - be it, pre65 coins, bullion, NCLT (ASE/maple leafs). Don't go crazy because there are alot of mistakes to be made and therefore little ones are always easier to shake off. I would also forget about talking about your hobby with your circle of friends, thats what this forum is for. They may not be interested but word of mouth may just travel to someone who has evil intentions.
With that I wish you the best of luck. You joined the right community and by posting on the bullion site we must share similar interests. Read all that you can and have fun. BTW nice survey

 

What goes up, must come down. Precious metal prices are like roller coasters and predicting their value is near impossible. Everyone likes to speculate, but that's all it is, speculation.

Earlier this year silver got down close to $25-$26 an ounce, ask these dealers you talk to if those were artificially low as well?

Like in the awesome movie Trading Places, "Buy low, sell high!" is the only good advice one can give. If you think it's at one of its lowest points it will get, then buy all you can and hold onto it when it goes back up. It's all just one big game, that costs money.

 

There is some logic behind the price fluctuation for PMs problem is there is so many factors playing a role here, so it is hard to truely determine what the eventual outcome will be: Price of US Dollar, Demand for Gold from consumers in India & China or industrial demand in case of silver, stability in US economy (which translates into more $$$ into equities as investors abandon PMs/safe haven) and inflation (increasing oil price for example will increase mining cost).

 

Last time I bought in bulk was when silver dipped into the mid twenties earlier this year. It would have to drop to 25/oz for me to buy in bulk again.

I'm still in the accumulation phase. I might consider selling if it hits $50 again.

 

I don't know why, but that's the fat elephant sitting in the room that I hadn't considered. Fuel is 2-3x what it was in 2008, so that could very well account for a good chunk of the price of silver nowdays.

 

FYI, because leap year was enacted over 2000 years ago and the Mayan calender didn't take leap year into account, the end of the Mayan calender (end of days) would actually have been sometime around August 2011. So we're all safe.......

 

I have cut back significantly, but I am still buying. I will continue to buy in smaller amounts for now. When silver dipped back down to the mid 20s earlier this year I purchased several hundred ounces, but have not bought in bulk since then. I have a "stair-step" plan for buying as well as selling. It is always good to have certain price points set in your mind for buying and purchasing to avoid emotional decisions.

 

Just holding unless you count coins I buy because I like them that happen to be made of PM. I think your poll should have had a "holding position" option. I think it would have been a very popular option.

 

I know it's probably difficult to fathom, but there are those of us who buy and sell for the mundane reason we just like certain coins. I do it for the sole reason it gives me pleasure and for no real monetary reason.

 

Must be nice to be filthy rich, please adopt me treehugger

 

I am adding a few coins at a time. Small lots off eBay, etc. I haven't sold any coins for a few months and will likely keep going the way I am. Until I see a reason to change tactics that is.

 

Don't I wish, snaps. Actually, I got rid of a couple of vices and have also discovered ramen noodles. I had to reconfigure my budget to be more coin-friendly. :smile

 

mostly on hold since the start of the year. picking up small lots of .90 coins here and there just to feed the habit. planing on a good sized buy next month or two, have to see how things play out. i have been at for a few years so am more picky on when i add. if i was a newer player i would be going in now and in stages up or down from the present price.

 

I am currently buying silver (art bars), then again, I am always looking for and buying silver art bars because I like to collect certain ones. When it comes to silver, I am not a doomer prepper and I am not an investor and I am not a trader. I am just a collector that likes certain art work on a 1-oz .999 pure silver rectangle.

 

I am selling.

 

I apologize to everyone that I didn't add a hold option in the poll, it seems we'd have at least a few people that would have chosen that.

There are a lot of people buying for the long term. That's where I am right now. Just buy it and stash it away for whatever the future holds, or for my kids to inherit...

Thanks for all of your opinions!

 

I have about 90-100 oz of mix and match silver. I am keeping some but selling alot off